Experian 2013 Annual Report Download - page 128
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17. Discontinued operations – comparison shopping and lead generation businesses (continued)
Depreciation and amortisation includes amortisation of acquisition intangibles of US$nil (2012: US$27m). As the assets and liabilities of these
discontinued operations were classified as held for sale, no depreciation and amortisation was required to be charged in the year ended 31
March 2013. The loss before tax of US$5m for the year ended 31 March 2013 reported for discontinued operations in note 9 comprises the loss
before tax of US$5m and a profit on disposal of US$nil. A tax credit of US$121m, comprising a deferred tax charge of US$13m and a current tax
credit of US$134m, has arisen primarily from the tax losses arising in respect of the disposal.
(b) Cash flows for discontinued operations
2013
US$m
2012
US$m
Cash inflow from operating activities 64 2
Cash flow used in investing activities – (3)
Cash inflow/(outflow) 64 (1)
The cash inflow from operating activities is stated after tax received of US$87m (2012: tax paid of US$9m) comprising tax relief on the losses of
these businesses of US$2m (2012: tax paid of US$9m) and tax relief on the disposal transaction of US$85m. Experian expects to realise further
cash tax relief of some US$132m.
The net cash outflow of US$8m arising on the disposal of the comparison shopping and lead generation businesses in the year ended 31 March
2013 is disclosed within net cash flows used in investing activities from continuing operations in the Group cash flow statement.
(c) Assets and liabilities classified as held for sale at 31 March 2012
US$m
Assets classified as held for sale:
Goodwill 33
Other intangible assets 35
Property, plant and equipment 8
Trade receivables 22
Other prepayments and accrued income 15
Current tax asset 5
Assets classified as held for sale 118
Liabilities classified as held for sale:
Deferred tax liability 38
Trade payables 15
Accruals and deferred income 24
Other payables 3
Liabilities classified as held for sale 80
18. Other comprehensive income
2013 2012
Income
before tax
US$m
Deferred tax
credit
US$m
Income after
tax
US$m
Income
before tax
US$m
Deferred tax
charge
US$m
Income after
tax
US$m
Actuarial (losses)/gains recognised on defined benefit
pension plans (62) 14 (48) 9 (2) 7
Fair value gains recognised on available-for-sale financial
assets 3 – 3 – – –
Currency translation differences (39) – (39) (64) – (64)
Other comprehensive income (98) 14 (84) (55) (2) (57)
Other comprehensive income includes items of income and expense not recognised within the Group income statement. All of these amounts
are in respect of continuing operations.
Further details in respect of actuarial gains and losses recognised on defined benefit pension plans are given in note 36 with details in respect
of fair value gains recognised on available-for-sale financial assets in note 31. As the above currency differences arise on translation only, there is
no related tax. Currency translation differences are taken directly to the translation reserve with other items taken directly to retained earnings.
Notes to the Group financial statements continued